NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Análise Econômica (Online) |
Texto Completo: | https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/74059 |
Resumo: | This article investigates the maximizing shareholder value strategy for a sampleof non-financial publicly held companies between 1997 and 2013. It also estimates the latterimpact over employment on firms’ respective sectors of activity. In order to estimate sucheffects the Two-Stage Least Squares method was used, with support the Chain ReactionTheory. Results indicate that increases in shared dividends, via maximizing shareholdervalue strategy, have negative effects over the productive investment in which, by its turn,slow down the employment creation. |
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Análise Econômica (Online) |
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NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZILEMPRESAS NÃO FINANCEIRAS E O IMPACTO DA ESTRATÉGIA MAXIMIZING SHAREHOLDER VALUE SOBRE O EMPREGO NO BRASILFinanceirizaçãoMaximizing Shareholder ValueEmpresas não-FinanceirasEmpregoG00G30E02J60FinancializationMaximizing shareholder valueNon-financial companiesEmploymentG00G30E02J60This article investigates the maximizing shareholder value strategy for a sampleof non-financial publicly held companies between 1997 and 2013. It also estimates the latterimpact over employment on firms’ respective sectors of activity. In order to estimate sucheffects the Two-Stage Least Squares method was used, with support the Chain ReactionTheory. Results indicate that increases in shared dividends, via maximizing shareholdervalue strategy, have negative effects over the productive investment in which, by its turn,slow down the employment creation.Esse artigo avalia a estratégia de maximizing shareholder value para uma amostra de empresas não financeiras de capital aberto entre 1997 e 2013 e estima seu impacto sobre o emprego em respectivos setores de atividade econômica. Para se estimar tais efeitos, utiliza-se o método de mínimos quadrados em dois estágios, com base na teoria da reação em cadeia. Os resultados indicam que o aumento da distribuição de dividendos, via maximizing shareholder value, tem efeitos negativos sobre o investimento produtivo, que, por sua vez, desacelera a criação de empregos.UFRGS2019-08-05info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/7405910.22456/2176-5456.74059Análise Econômica; Vol. 37 No. 73 (2019): Junho/2019Análise Econômica; v. 37 n. 73 (2019): Junho/20192176-54560102-9924reponame:Análise Econômica (Online)instname:Universidade Federal do Rio Grande do Sul (UFRGS)instacron:UFRGSporhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/74059/53570Copyright (c) 2019 Análise Econômicainfo:eu-repo/semantics/openAccessAttílio, Luccas AssisCavalcante, Anderson2020-06-29T21:35:38Zoai:seer.ufrgs.br:article/74059Revistahttps://seer.ufrgs.br/index.php/AnaliseEconomicaPUBhttps://seer.ufrgs.br/index.php/AnaliseEconomica/oai||rae@ufrgs.br2176-54560102-9924opendoar:2020-06-29T21:35:38Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)false |
dc.title.none.fl_str_mv |
NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL EMPRESAS NÃO FINANCEIRAS E O IMPACTO DA ESTRATÉGIA MAXIMIZING SHAREHOLDER VALUE SOBRE O EMPREGO NO BRASIL |
title |
NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL |
spellingShingle |
NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL Attílio, Luccas Assis Financeirização Maximizing Shareholder Value Empresas não-Financeiras Emprego G00 G30 E02 J60 Financialization Maximizing shareholder value Non-financial companies Employment G00 G30 E02 J60 |
title_short |
NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL |
title_full |
NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL |
title_fullStr |
NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL |
title_full_unstemmed |
NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL |
title_sort |
NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL |
author |
Attílio, Luccas Assis |
author_facet |
Attílio, Luccas Assis Cavalcante, Anderson |
author_role |
author |
author2 |
Cavalcante, Anderson |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Attílio, Luccas Assis Cavalcante, Anderson |
dc.subject.por.fl_str_mv |
Financeirização Maximizing Shareholder Value Empresas não-Financeiras Emprego G00 G30 E02 J60 Financialization Maximizing shareholder value Non-financial companies Employment G00 G30 E02 J60 |
topic |
Financeirização Maximizing Shareholder Value Empresas não-Financeiras Emprego G00 G30 E02 J60 Financialization Maximizing shareholder value Non-financial companies Employment G00 G30 E02 J60 |
description |
This article investigates the maximizing shareholder value strategy for a sampleof non-financial publicly held companies between 1997 and 2013. It also estimates the latterimpact over employment on firms’ respective sectors of activity. In order to estimate sucheffects the Two-Stage Least Squares method was used, with support the Chain ReactionTheory. Results indicate that increases in shared dividends, via maximizing shareholdervalue strategy, have negative effects over the productive investment in which, by its turn,slow down the employment creation. |
publishDate |
2019 |
dc.date.none.fl_str_mv |
2019-08-05 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/74059 10.22456/2176-5456.74059 |
url |
https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/74059 |
identifier_str_mv |
10.22456/2176-5456.74059 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/74059/53570 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2019 Análise Econômica info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2019 Análise Econômica |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
UFRGS |
publisher.none.fl_str_mv |
UFRGS |
dc.source.none.fl_str_mv |
Análise Econômica; Vol. 37 No. 73 (2019): Junho/2019 Análise Econômica; v. 37 n. 73 (2019): Junho/2019 2176-5456 0102-9924 reponame:Análise Econômica (Online) instname:Universidade Federal do Rio Grande do Sul (UFRGS) instacron:UFRGS |
instname_str |
Universidade Federal do Rio Grande do Sul (UFRGS) |
instacron_str |
UFRGS |
institution |
UFRGS |
reponame_str |
Análise Econômica (Online) |
collection |
Análise Econômica (Online) |
repository.name.fl_str_mv |
Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS) |
repository.mail.fl_str_mv |
||rae@ufrgs.br |
_version_ |
1799766268074524672 |